Currency Analyst since 2010

August 8: Asian session

EUR/USD closed yesterday above $1.3300 and is now trading in the $1.3340 area. Euro holds gains before data today forecast to show Germany’s trade surplus widened. Also pay attention to the ECB monthly bulletin which is due at 08:00 GMT. Later today in the US watch for the unemployment claims data (12:30 GMT). GBP/USD is trading on the upside, in the $1.5500 zone, slightly below yesterday’s high at $1.5531. Sterling rose after the Bank of England’s inflation report yesterday and Carney’s speech.

USD/JPY tried to recover, but was capped at 96.95 and then slipped to 96.20. As expected, the BOJ kept monetary policy unchanged today. The BOJ governor Kuroda’s press conference starts at 06:30 GMT. USD/CHF fell to 92.05.

AUD/USD strengthened to $0.9090. Weak Australia employment data (employment contracted by 10.2K, unemployment holds at 5.7%) pulled the pair to the $0.8990 support, but Chinese trade balance data highlighted increase in demand for Australia and helped the Aussie to recover. NZD/USD is trading slightly below the yesterday’s peak at $0.8000. USD/CAD closed above 1.0400 and is trading around 1.0429 after reaching 1.0445 yesterday.

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